Tilly's Inc. (TLYS) said it has priced an initial public offering of 8.0 million Class A common shares at $15.50 per share. Tilly's is offering 7.60 million shares and selling stockholders are offering 400,000 shares. The shares would be listed on the New York Stock Exchange under the symbol "TLYS" and would begin trading today.

The underwriters have a 30-day option to buy up to an additional 1,200,000 shares from the selling stockholders to cover overallotments, if any. Tilly's would not receive any proceeds from the sale of shares by the selling stockholders.

Tilly's anticipates to receive proceeds, net of the underwriting discounts and offering expenses, of about $107.6 million. Tilly's plans to use $84.0 million to pay in full the principal amount of notes held by existing stockholders representing the final undistributed "S" corporation earnings of World of Jeans & Tops, a wholly-owned unit, while the remaining proceeds would be used for working capital and general corporate purposes.